Exit Help and Trailing stops

Discussion in 'Strategy Building' started by giannos, Jan 18, 2006.

  1. giannos

    giannos

    HI:

    I have been on a simulator for some time now. I felt that I needed to really work on my entry and revise my system and my signals. However, that being said , I am having a problem now with my exit. I seem to be leaving alot of money on the table. I cut my losers short and fast and so far so good. The thing is, when I am in a profitable trade I am usually looking for a certain amount of pennies depending on the stock. Somewhere between 5-40 cents depending on how volatile the stock is. But when I exit this way, I find that I am not capturing alot of the move. I have never used trailing stops before so I have no idea what range to use or percent. I am just trying to figure out different methods of exit. Should I close out half of my position after I get my predetermined amount of profit ( let's say 15 cents ) then let the other half ride and put a stop at break even ? Or let the other half ride with a trailing stop to lock in some profit ( to avoid getting stopped out at BE )... I have tried looking at support/resistance for my exits, but If I am not near those levels, then again I find I exit to soon. What other techniques can I use to exit ?

    Any advice would be appreciated

    Regards,
    Giannos
     
  2. achilles28

    achilles28

    Try using trendline breaks to determine exits.